Marg Constructions to invest in Signa Infrastructure

Marg Constructions Ltd has announced that the Board of Directors of the Company at its meeting held on September 02, 2006, inter alia, has transacted the following:

1. Reviewed the ongoing projects of the Company.

2. Further the board has decided to obtain approval of the shareholders to,

i) Revise remuneration payable to the Chairman and Managing Director.

ii) Investment in shares of Signa Infrastructure India Ltd, a Joint Venture with Housing and Urban Development Corporation Ltd (HUDCO).

iii) Investment in Information Technology and Information Technology Enabled Services Sector.

iv) Investment in Constructions and Infrastructure Sectors.

v) Issue and Allot shares of the Company under Employee Stock Option Scheme and alteration of Articles of Association to incorporate the provision of Employee Stock Option Scheme.

vi) Increase the borrowing limit of the Company.

Source : Equity Bulls

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